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Precast Concrete Market Size Worth USD 162.72 Billion Forecast Till 2027; Rapid Urbanization and Demand for Commercial and Residential Buildings to Augment Growth: Fortune Business Insights™

Key companies covered are Oldcastle Precast, Balfour Beatty, Bouygues Construction, Elementbau Osthessen GmbH & Co., ELO KG, Spancrete, Tindall Corporation, Forterra, CEMEX, Larson & Turbo Limited, Olson Precast Company, Gulf Precast, LafargeHolcim, Boral, among others.

/EIN News/ -- Pune, July 22, 2020 (GLOBE NEWSWIRE) -- The global precast concrete market size is expected to gain momentum and touch USD 162.72 billion by 2027 on account of the increasing urbanization and a rise in the number of construction activities worldwide. Precast concretes mean mold in the reusable form which can be used to provide a superior level of resistance to insects and mold, or natural disasters, or in case of fires. Unlike other building material, this concrete is resistant to termites, requires low maintenance, and meager insurance costs. As per a report by Fortune Business Insights, titled, Precast Concrete Market Size, Share & Industry Analysis, By Product Type (Building Components, Transportation, Water & Waste Handling, and Others), By End-Use (Residential, and Non-Residential), and Regional Forecast, 2020-2027,” the market value was USD 115.98 billion in 2019. The forecast period is between 2020 and 2027, and the market is likely to exhibit a CAGR of 4.4%.

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The whole world is facing the widespread pandemic of coronavirus and trying to deal with it by staying safe at homes. However, the extended lockdown period has impacted many businesses, most of which are currently at a halt. International trade halt has adversely affected most companies. The COVID-19 has impacted the whole economy at a global level, but we hope to come out of this situation soon with government support and measures.

Fortune Business Insights is offering special reports based on various markets and the impact that COVID-19 has on them. These reports are thoroughly studied for the benefit of investors to chalk out strategies for better revenue generation in the future.

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List of the Leading Companies Operating in the Precast Concrete Market are:

  • Oldcastle Precast (U.S.)
  • Balfour Beatty(U.K.)
  • Bouygues Construction(France)
  • Elementbau Osthessen GmbH & Co., ELO KG (Germany)
  • Spancrete (U.S.)
  • Tindall Corporation (U.S.)
  • Forterra (U.S.)
  • CEMEX (Mexico)
  • Larson & Turbo Limited (India)
  • Olson Precast Company (U.S.)
  • Gulf Precast (UAE)
  • LafargeHolcim (Switzerland)
  • Boral (Australia)
  • Other players

The Report Answers the Following Queries:

  • What is the nature of the market?
  • Who are the key players of this market, and what is their strategy?
  • How will urbanization contribute to the growth of the market?
  • What are the recent industry developments in this market?

Drivers & Restraints

Increasing Demand for Commercial and Residential Spaces to Propel Growth

Increasing population, growing industries and businesses, and the rising need for residential and commercial spaces are the key factors promoting the precast concrete market growth. In addition to this, rapid urbanization and industrialization have propelled the demand for construction activities. This has led to a rise in the expenditure for construction activities, thereby augmenting growth.

On the contrary, certain drawbacks may pull down this market in the future. These include the environmental and health concerns concerning cement manufacturing. It is believed that cement production releases many gases such as sulfur dioxide, carbon monoxide, and nitrogen oxide into the atmosphere. This may result in numerous environmental impacts such as global warming, depletion in the quality of water, and acid rain, among others. Besides this, there are several health issues such as visual impairment, asthma, and various cardiovascular diseases that may cause hindrance to the overall market in the coming years.

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Building Components Segment Earned Major Share Attributed to Utilization in Construction Projects

Based on segmentation by product type, the building components segment gained the largest precast concrete market share. Growth of this segment is attributable to the increasing demand for cost-efficient quality houses at affordable prices that propelled a rise in the number of construction projects.

Regional Analysis-
Asia Pacific to Emerge Dominant on Account of Rising Investments in Infrastructural Development

Geographically, Asia Pacific earned a revenue of USD 46.97 billion in the year 2019 and received the largest market share. This is attributable to the increasing investments on infrastructural development by emerging nations such as India, China, and Japan in the forecast duration that will propel the demand for this concrete in the regional market. Europe ranks second on account of the increasing use of precast concrete products for commercial and industrial construction projects.

Competitive Landscape-

Players Focusing on Geographical Expansion for Gaining Significant Position in Market

The global market is fragmented as the number of players is many. Some of them are investing heavily on material supply and other partnership strategies to gain a competitive edge in the market. Others are planning on expanding their brand presence geographically to draw significant revenues to the market.

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Precast Concrete Industry Report:

Major Industry Developments of this Market Include:

January 2019 – Alfons Greten Betonwerk was acquired by Lafarge Holcim for operating collaboratively on one ready-mix and one precast concrete plant located in Germany. This effort is expected to help increase its brand presence in the nation.

April 2017 – The Caissons of maritime infrastructure by Bouygues Construction was pre-casted for the Monaco offshore extension project located in Marseille. This will help to serve as the new base for offshore extensions.

Detailed Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Key Emerging Trends – For Major Countries
    • Key Developments: Mergers, Acquisition, Partnership, etc.
    • Latest Technological Advancement
    • Insights on Regulatory Scenario
    • Porters Five Forces Analysis
  • Global Precast Concrete Market Analysis, Insights and Forecast, 2016-2027
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Product Type
      • Building Components
      • Transportation
      • Water & Waste Handling
      • Others
    • Market Analysis, Insights and Forecast – By End-Use
      • Residential
      • Non-Residential
    • Market Analysis, Insights and Forecast – By Region
      • North America
      • Europe
      • Asia pacific
      • Latin America
      • Middle East & Africa

TOC Continued…!!!

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Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

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